The Importance of Training | Why Training is Important

Why training is important?

Training is an integral part of any freelancer or company’s success. The importance of training is often overlooked or neglected, but it absolutely should not be.

It is not only an important part of the growth of a company or individuals skill-set and knowledge-base, it is also a vital one. Overlooking training can be a fatal mistake for any individual or business. Today, we have an ever-changing, fast-paced marketplace which means that the importance of job training has never been greater. Workforce training is a crucial way to keep your organization competitive. This of course also applies to freelancers.

Training vs. Business

Training presents a prime opportunity to expand the knowledge base of all individuals/employees, but many employers in the current climate find development opportunities expensive. Employees attending training sessions may also need to attend such training during business hours which may delay the completion of projects. For this reason, Academy Class provides an innovative solution to training, offering students the opportunity to study via a plethora of methods including in a classroom, online via live lessons, individually, or in a corporate setting. Academy Class’ packages are also customisable which gives learners/companies the flexibility they require.

Have a look at our 10-Day-Training course to find a happy medium between losing time on projects whilst training and losing out on training whilst working on projects.

Grow Your Minduk training academy

The benefits of training and development for both individuals and organisations utterly outweigh the disadvantages. In the long run, the return on investment from training and development of individuals’ skills is really a no brainer.

Sufficient training can be incredibly beneficial and can provide you with the following:

  • Overall Improved Performance
    • The individual/employee who receives the necessary training will be given the tools they require in order to sufficiently carry out their job tasks. The training will give the employee a greater understanding of their responsibilities within their role, and in turn, boost their confidence. This boosted sense of confidence will enhance their overall performance and this can only be beneficial. Individuals who are competent, informed and well trained on industry standards will hold a position as a leader and strong competitor within the industry.
  • Fostering Growth
    • At the end of the day, the bottom line of any business is financial growth. If one could do it alone, there would be no need for a workforce. And every workforce must be trained. The better the training, the better your company’s growth. Your most valuable employees are ambitious and have room to grow. By giving them the training they need to maximize their skills, they will be able to fill out those hard to reach goals that only the most talented and dedicated employees can.
  • Improved Consistency and Efficiency
    • A robust training and development program ensures that individuals, whether freelance or employee, have consistent up-to-date experience and background knowledge. This consistency is especially relevant for the company’s basic policies and procedures. Employees need to be aware of the expectations and procedures within the company. Increased efficiencies in processes result in financial gain for the company.
  • Increased Productivity and Adherence to Quality Standards
    • Productivity and efficiency usually increase when a company implements training courses. Increased efficiency in processes will ensure project success which in turn will improve the company turnover and potential market share.
  • Increased Innovation
    • Ongoing training and upskilling of the workforce can encourage creativity. New ideas can be formed as a direct result of training and development. An individual who knows what’s what has a better likelihood of being enabled to form new, out-of-the-box concepts and ideas.
  • Enhances Reputation and Profile
    • Having a strong and successful training strategy in place assists the development of your employer brand and makes your company a prime consideration for graduates and mid-career changes. Training also makes a company more attractive to potential new recruits who seek to improve their skills and the opportunities associated with those new skills.
  • Reduces the Need for Supervision and Direction
    • A trained employee knows what the job is and how to adequately do that job and requires little to no guidance and supervision. Supervisors can devote their time to solve larger-scale problems rather than concentrating on constant and regular supervision.
  • Reduces Accidents in the Workplace Environment
    • Untrained individuals are bound to commit errors whilst dealing with unknown software and/or equipment. Training greatly reduces the possibility of errors which may affect clients and therefore, business.

Invest in your future now to avoid disappointment later

Individuals/employees that are clued up on what is happening in the workforce when it’s happening bring exponentially more value to the workforce. Individuals with know-how and trained skills work more efficiently, perform fewer errors and are extremely valuable in their respective fields.

Academy Class The Importance of Training

According to the Association for Talent Development (ATD), companies that offer comprehensive training programs have 218% higher income per employee than companies without formalized training. But it doesn’t stop there. These companies also enjoy a 24% higher profit margin than those who spend less on training. It would seem that continuing to invest in training and development, even when there are economic downturns, is the smartest play.

In a study conducted by the National Center on the Educational Quality of the Workforce (EQW), increases in workforce education level were far more effective at increasing productivity than increases in the value of equipment (a 10% increase in both produced a productivity gain of 8.6% for education vs. a mere 3.4% increase for upgraded equipment).

Research shows that a full 40% of employees who don’t receive the necessary job training to become effective will leave their positions within the first year.

Not only that but to keep them long-term, companies must also offer continuing development and opportunities for advancement. In a Skillsoft survey from the UK, roughly two-thirds of the workers stated that they felt workplace training should continue throughout their career, regardless of their seniority.

In another recent national survey of over 400 employees spanning three generations (Baby Boomers, Generation X, and Millennials), 70% of the respondents indicated that job-related training and development opportunities influenced their decision to stay at their job. The Millennials had the most significant results, with 87% of them citing access to professional development or career growth opportunities as being very important to their decision of whether to stay or go.

Also, a long-term research project commissioned by Middlesex University for Work-Based Learning found that from a 4,300 workers sample, 74% felt that they weren’t achieving their full potential at work due to lack of development opportunities.

It’s not just about the money. Workers are no longer satisfied with a good salary. They can feel burned out, tired, and overwhelmed at work.

With good training, your workforce can learn how to manage stress better and be more efficient with what they do. This, in turn, helps them reach their full potential and be happier individuals who are involved with the greater goals of the company. This becomes all the more important since 36% of workers stated that they would quit a job with a good salary to be happier at work.